Audit 341845

FY End
2024-06-30
Total Expended
$15.07M
Findings
16
Programs
7
Organization: Caldwell University (NJ)
Year: 2024 Accepted: 2025-02-10

Organization Exclusion Status:

Checking exclusion status...

Findings

ID Ref Severity Repeat Requirement
522600 2024-001 Significant Deficiency - N
522601 2024-001 Significant Deficiency - N
522602 2024-001 Significant Deficiency - N
522603 2024-001 Significant Deficiency - N
522604 2024-002 Significant Deficiency - N
522605 2024-002 Significant Deficiency - N
522606 2024-002 Significant Deficiency - N
522607 2024-002 Significant Deficiency - N
1099042 2024-001 Significant Deficiency - N
1099043 2024-001 Significant Deficiency - N
1099044 2024-001 Significant Deficiency - N
1099045 2024-001 Significant Deficiency - N
1099046 2024-002 Significant Deficiency - N
1099047 2024-002 Significant Deficiency - N
1099048 2024-002 Significant Deficiency - N
1099049 2024-002 Significant Deficiency - N

Programs

Contacts

Name Title Type
R944EMRC7JN5 Gina Westervelt Auditee
9736183563 Joseph Russell Auditor
No contacts on file

Notes to SEFA

Title: Basis of Presentation Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: Y Rate Explanation: The University elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. The accompanying schedule of expenditures of federal awards (the "Schedule") include the federal award activity of Caldwell University (the "University") under programs of the federal government for the year ended June 30, 2024. The information in this Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards ("Uniform Guidance"). Because the Schedule present only a selected portion of the operations of the University, it is not intended to and does not present the financial position, changes in net assets, or cash flows of the University.
Title: Loans Outstanding Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: Y Rate Explanation: The University elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. The University is responsible only for the performance of certain administrative duties with respect to the Federal Direct Student Loans and, accordingly, these loans are not included in the University's basic financial statements. It is not practical to determine the balance of loans outstanding to students of the University under these programs at June 30, 2024.
Title: Contingency Accounting Policies: Expenditures reported on the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. De Minimis Rate Used: Y Rate Explanation: The University elected to use the 10% de minimis indirect cost rate as allowed under the Uniform Guidance. The grant revenue amounts received are subject to audit and adjustment. If any expenditures are disallowed by the grantor agencies as a result of such an audit, any claim for reimbursement to the grantor agencies would become a liability of the University. In the opinion of management, and with the exception of certain findings presented in the accompanying schedule of findings and questioned costs, all grant expenditures are in compliance with the terms of the grant agreements and applicable federal and state laws and regulations.

Finding Details

2024-001 Special Tests and Provisions – Disbursements to or on Behalf of Students Federal Assistance Listing Number: 84.007, 84.033, 84.063 and 84.268 Name of Program or Cluster: Student Financial Aid Cluster Agency: U.S. Department of Education Criteria: N. Special Tests and Provisions – Disbursements to or on Behalf of Students - Institutions submit Direct Loan, Pell, TEACH, and IASG origination records and disbursement records to the Common Origination & Disbursement ("COD"). Origination records can be sent well in advance of any disbursements, as early as the institution chooses to submit for any student the institution reasonably believes will be eligible for a payment. Institutions must report student disbursement data within 15 calendar days after the institution makes a disbursement or becomes aware of the need to make an adjustment to previously reported student disbursement data or expected student disbursement data. Condition: The University did not report disbursements records to the COD for 8 out of the 40 students sampled, out of a population of 1,316 students that received aid, within the required timeframe. Cause: Management oversight and staff shortages. Effect: Noncompliance with OMB federal grant compliance requirements. Questioned Costs: None. Repeat Finding: No. Recommendation: The University should develop a process to ensure disbursements records are reported to the COD within the required timeline. In addition, the University should assess the staffing needs of the financial aid department and plan for increasing capacity through hiring or reorganizing the current responsibilities of its staff. Views of Responsible Officials: See corrective action plan attached.
2024-001 Special Tests and Provisions – Disbursements to or on Behalf of Students Federal Assistance Listing Number: 84.007, 84.033, 84.063 and 84.268 Name of Program or Cluster: Student Financial Aid Cluster Agency: U.S. Department of Education Criteria: N. Special Tests and Provisions – Disbursements to or on Behalf of Students - Institutions submit Direct Loan, Pell, TEACH, and IASG origination records and disbursement records to the Common Origination & Disbursement ("COD"). Origination records can be sent well in advance of any disbursements, as early as the institution chooses to submit for any student the institution reasonably believes will be eligible for a payment. Institutions must report student disbursement data within 15 calendar days after the institution makes a disbursement or becomes aware of the need to make an adjustment to previously reported student disbursement data or expected student disbursement data. Condition: The University did not report disbursements records to the COD for 8 out of the 40 students sampled, out of a population of 1,316 students that received aid, within the required timeframe. Cause: Management oversight and staff shortages. Effect: Noncompliance with OMB federal grant compliance requirements. Questioned Costs: None. Repeat Finding: No. Recommendation: The University should develop a process to ensure disbursements records are reported to the COD within the required timeline. In addition, the University should assess the staffing needs of the financial aid department and plan for increasing capacity through hiring or reorganizing the current responsibilities of its staff. Views of Responsible Officials: See corrective action plan attached.
2024-001 Special Tests and Provisions – Disbursements to or on Behalf of Students Federal Assistance Listing Number: 84.007, 84.033, 84.063 and 84.268 Name of Program or Cluster: Student Financial Aid Cluster Agency: U.S. Department of Education Criteria: N. Special Tests and Provisions – Disbursements to or on Behalf of Students - Institutions submit Direct Loan, Pell, TEACH, and IASG origination records and disbursement records to the Common Origination & Disbursement ("COD"). Origination records can be sent well in advance of any disbursements, as early as the institution chooses to submit for any student the institution reasonably believes will be eligible for a payment. Institutions must report student disbursement data within 15 calendar days after the institution makes a disbursement or becomes aware of the need to make an adjustment to previously reported student disbursement data or expected student disbursement data. Condition: The University did not report disbursements records to the COD for 8 out of the 40 students sampled, out of a population of 1,316 students that received aid, within the required timeframe. Cause: Management oversight and staff shortages. Effect: Noncompliance with OMB federal grant compliance requirements. Questioned Costs: None. Repeat Finding: No. Recommendation: The University should develop a process to ensure disbursements records are reported to the COD within the required timeline. In addition, the University should assess the staffing needs of the financial aid department and plan for increasing capacity through hiring or reorganizing the current responsibilities of its staff. Views of Responsible Officials: See corrective action plan attached.
2024-001 Special Tests and Provisions – Disbursements to or on Behalf of Students Federal Assistance Listing Number: 84.007, 84.033, 84.063 and 84.268 Name of Program or Cluster: Student Financial Aid Cluster Agency: U.S. Department of Education Criteria: N. Special Tests and Provisions – Disbursements to or on Behalf of Students - Institutions submit Direct Loan, Pell, TEACH, and IASG origination records and disbursement records to the Common Origination & Disbursement ("COD"). Origination records can be sent well in advance of any disbursements, as early as the institution chooses to submit for any student the institution reasonably believes will be eligible for a payment. Institutions must report student disbursement data within 15 calendar days after the institution makes a disbursement or becomes aware of the need to make an adjustment to previously reported student disbursement data or expected student disbursement data. Condition: The University did not report disbursements records to the COD for 8 out of the 40 students sampled, out of a population of 1,316 students that received aid, within the required timeframe. Cause: Management oversight and staff shortages. Effect: Noncompliance with OMB federal grant compliance requirements. Questioned Costs: None. Repeat Finding: No. Recommendation: The University should develop a process to ensure disbursements records are reported to the COD within the required timeline. In addition, the University should assess the staffing needs of the financial aid department and plan for increasing capacity through hiring or reorganizing the current responsibilities of its staff. Views of Responsible Officials: See corrective action plan attached.
2024-002 Special Tests and Provisions – Enrollment Reporting Federal Assistance Listing Number: 84.007, 84.033, 84.063 and 84.268 Name of Program or Cluster: Student Financial Aid Cluster Agency: U.S. Department of Education Criteria: N. Special Tests and Provisions – Enrollment Reporting – Institutions are required to update students’ statuses on the National Student Loans Data System (“NSLDS”) website if they graduate, withdraw or have an increase/decrease in attendance level during the year within 60 days of the date the institution becomes aware of the change in enrollment status. Condition: The University did not submit an accurate status change notification or timely notification to the NSLDS website for 4 out of 25 students sampled, out of a population of 627 students, who graduated, withdrew, or had an increase/decrease in attendance level during the year. Cause: Management oversight and staff shortages. Effect: Noncompliance with OMB federal grant compliance requirements. Questioned Costs: None. Repeat Finding: Yes. Recommendation: The University should properly follow its policies and procedures over enrollment reporting to ensure that all status changes are submitted to the NSLDS website accurately and within the required timeframe. In addition, the University should assess the staffing needs of the financial aid department and plan for increasing capacity through hiring or reorganizing the current responsibilities of its staff. Views of Responsible Officials: See corrective action plan attached.
2024-002 Special Tests and Provisions – Enrollment Reporting Federal Assistance Listing Number: 84.007, 84.033, 84.063 and 84.268 Name of Program or Cluster: Student Financial Aid Cluster Agency: U.S. Department of Education Criteria: N. Special Tests and Provisions – Enrollment Reporting – Institutions are required to update students’ statuses on the National Student Loans Data System (“NSLDS”) website if they graduate, withdraw or have an increase/decrease in attendance level during the year within 60 days of the date the institution becomes aware of the change in enrollment status. Condition: The University did not submit an accurate status change notification or timely notification to the NSLDS website for 4 out of 25 students sampled, out of a population of 627 students, who graduated, withdrew, or had an increase/decrease in attendance level during the year. Cause: Management oversight and staff shortages. Effect: Noncompliance with OMB federal grant compliance requirements. Questioned Costs: None. Repeat Finding: Yes. Recommendation: The University should properly follow its policies and procedures over enrollment reporting to ensure that all status changes are submitted to the NSLDS website accurately and within the required timeframe. In addition, the University should assess the staffing needs of the financial aid department and plan for increasing capacity through hiring or reorganizing the current responsibilities of its staff. Views of Responsible Officials: See corrective action plan attached.
2024-002 Special Tests and Provisions – Enrollment Reporting Federal Assistance Listing Number: 84.007, 84.033, 84.063 and 84.268 Name of Program or Cluster: Student Financial Aid Cluster Agency: U.S. Department of Education Criteria: N. Special Tests and Provisions – Enrollment Reporting – Institutions are required to update students’ statuses on the National Student Loans Data System (“NSLDS”) website if they graduate, withdraw or have an increase/decrease in attendance level during the year within 60 days of the date the institution becomes aware of the change in enrollment status. Condition: The University did not submit an accurate status change notification or timely notification to the NSLDS website for 4 out of 25 students sampled, out of a population of 627 students, who graduated, withdrew, or had an increase/decrease in attendance level during the year. Cause: Management oversight and staff shortages. Effect: Noncompliance with OMB federal grant compliance requirements. Questioned Costs: None. Repeat Finding: Yes. Recommendation: The University should properly follow its policies and procedures over enrollment reporting to ensure that all status changes are submitted to the NSLDS website accurately and within the required timeframe. In addition, the University should assess the staffing needs of the financial aid department and plan for increasing capacity through hiring or reorganizing the current responsibilities of its staff. Views of Responsible Officials: See corrective action plan attached.
2024-002 Special Tests and Provisions – Enrollment Reporting Federal Assistance Listing Number: 84.007, 84.033, 84.063 and 84.268 Name of Program or Cluster: Student Financial Aid Cluster Agency: U.S. Department of Education Criteria: N. Special Tests and Provisions – Enrollment Reporting – Institutions are required to update students’ statuses on the National Student Loans Data System (“NSLDS”) website if they graduate, withdraw or have an increase/decrease in attendance level during the year within 60 days of the date the institution becomes aware of the change in enrollment status. Condition: The University did not submit an accurate status change notification or timely notification to the NSLDS website for 4 out of 25 students sampled, out of a population of 627 students, who graduated, withdrew, or had an increase/decrease in attendance level during the year. Cause: Management oversight and staff shortages. Effect: Noncompliance with OMB federal grant compliance requirements. Questioned Costs: None. Repeat Finding: Yes. Recommendation: The University should properly follow its policies and procedures over enrollment reporting to ensure that all status changes are submitted to the NSLDS website accurately and within the required timeframe. In addition, the University should assess the staffing needs of the financial aid department and plan for increasing capacity through hiring or reorganizing the current responsibilities of its staff. Views of Responsible Officials: See corrective action plan attached.
2024-001 Special Tests and Provisions – Disbursements to or on Behalf of Students Federal Assistance Listing Number: 84.007, 84.033, 84.063 and 84.268 Name of Program or Cluster: Student Financial Aid Cluster Agency: U.S. Department of Education Criteria: N. Special Tests and Provisions – Disbursements to or on Behalf of Students - Institutions submit Direct Loan, Pell, TEACH, and IASG origination records and disbursement records to the Common Origination & Disbursement ("COD"). Origination records can be sent well in advance of any disbursements, as early as the institution chooses to submit for any student the institution reasonably believes will be eligible for a payment. Institutions must report student disbursement data within 15 calendar days after the institution makes a disbursement or becomes aware of the need to make an adjustment to previously reported student disbursement data or expected student disbursement data. Condition: The University did not report disbursements records to the COD for 8 out of the 40 students sampled, out of a population of 1,316 students that received aid, within the required timeframe. Cause: Management oversight and staff shortages. Effect: Noncompliance with OMB federal grant compliance requirements. Questioned Costs: None. Repeat Finding: No. Recommendation: The University should develop a process to ensure disbursements records are reported to the COD within the required timeline. In addition, the University should assess the staffing needs of the financial aid department and plan for increasing capacity through hiring or reorganizing the current responsibilities of its staff. Views of Responsible Officials: See corrective action plan attached.
2024-001 Special Tests and Provisions – Disbursements to or on Behalf of Students Federal Assistance Listing Number: 84.007, 84.033, 84.063 and 84.268 Name of Program or Cluster: Student Financial Aid Cluster Agency: U.S. Department of Education Criteria: N. Special Tests and Provisions – Disbursements to or on Behalf of Students - Institutions submit Direct Loan, Pell, TEACH, and IASG origination records and disbursement records to the Common Origination & Disbursement ("COD"). Origination records can be sent well in advance of any disbursements, as early as the institution chooses to submit for any student the institution reasonably believes will be eligible for a payment. Institutions must report student disbursement data within 15 calendar days after the institution makes a disbursement or becomes aware of the need to make an adjustment to previously reported student disbursement data or expected student disbursement data. Condition: The University did not report disbursements records to the COD for 8 out of the 40 students sampled, out of a population of 1,316 students that received aid, within the required timeframe. Cause: Management oversight and staff shortages. Effect: Noncompliance with OMB federal grant compliance requirements. Questioned Costs: None. Repeat Finding: No. Recommendation: The University should develop a process to ensure disbursements records are reported to the COD within the required timeline. In addition, the University should assess the staffing needs of the financial aid department and plan for increasing capacity through hiring or reorganizing the current responsibilities of its staff. Views of Responsible Officials: See corrective action plan attached.
2024-001 Special Tests and Provisions – Disbursements to or on Behalf of Students Federal Assistance Listing Number: 84.007, 84.033, 84.063 and 84.268 Name of Program or Cluster: Student Financial Aid Cluster Agency: U.S. Department of Education Criteria: N. Special Tests and Provisions – Disbursements to or on Behalf of Students - Institutions submit Direct Loan, Pell, TEACH, and IASG origination records and disbursement records to the Common Origination & Disbursement ("COD"). Origination records can be sent well in advance of any disbursements, as early as the institution chooses to submit for any student the institution reasonably believes will be eligible for a payment. Institutions must report student disbursement data within 15 calendar days after the institution makes a disbursement or becomes aware of the need to make an adjustment to previously reported student disbursement data or expected student disbursement data. Condition: The University did not report disbursements records to the COD for 8 out of the 40 students sampled, out of a population of 1,316 students that received aid, within the required timeframe. Cause: Management oversight and staff shortages. Effect: Noncompliance with OMB federal grant compliance requirements. Questioned Costs: None. Repeat Finding: No. Recommendation: The University should develop a process to ensure disbursements records are reported to the COD within the required timeline. In addition, the University should assess the staffing needs of the financial aid department and plan for increasing capacity through hiring or reorganizing the current responsibilities of its staff. Views of Responsible Officials: See corrective action plan attached.
2024-001 Special Tests and Provisions – Disbursements to or on Behalf of Students Federal Assistance Listing Number: 84.007, 84.033, 84.063 and 84.268 Name of Program or Cluster: Student Financial Aid Cluster Agency: U.S. Department of Education Criteria: N. Special Tests and Provisions – Disbursements to or on Behalf of Students - Institutions submit Direct Loan, Pell, TEACH, and IASG origination records and disbursement records to the Common Origination & Disbursement ("COD"). Origination records can be sent well in advance of any disbursements, as early as the institution chooses to submit for any student the institution reasonably believes will be eligible for a payment. Institutions must report student disbursement data within 15 calendar days after the institution makes a disbursement or becomes aware of the need to make an adjustment to previously reported student disbursement data or expected student disbursement data. Condition: The University did not report disbursements records to the COD for 8 out of the 40 students sampled, out of a population of 1,316 students that received aid, within the required timeframe. Cause: Management oversight and staff shortages. Effect: Noncompliance with OMB federal grant compliance requirements. Questioned Costs: None. Repeat Finding: No. Recommendation: The University should develop a process to ensure disbursements records are reported to the COD within the required timeline. In addition, the University should assess the staffing needs of the financial aid department and plan for increasing capacity through hiring or reorganizing the current responsibilities of its staff. Views of Responsible Officials: See corrective action plan attached.
2024-002 Special Tests and Provisions – Enrollment Reporting Federal Assistance Listing Number: 84.007, 84.033, 84.063 and 84.268 Name of Program or Cluster: Student Financial Aid Cluster Agency: U.S. Department of Education Criteria: N. Special Tests and Provisions – Enrollment Reporting – Institutions are required to update students’ statuses on the National Student Loans Data System (“NSLDS”) website if they graduate, withdraw or have an increase/decrease in attendance level during the year within 60 days of the date the institution becomes aware of the change in enrollment status. Condition: The University did not submit an accurate status change notification or timely notification to the NSLDS website for 4 out of 25 students sampled, out of a population of 627 students, who graduated, withdrew, or had an increase/decrease in attendance level during the year. Cause: Management oversight and staff shortages. Effect: Noncompliance with OMB federal grant compliance requirements. Questioned Costs: None. Repeat Finding: Yes. Recommendation: The University should properly follow its policies and procedures over enrollment reporting to ensure that all status changes are submitted to the NSLDS website accurately and within the required timeframe. In addition, the University should assess the staffing needs of the financial aid department and plan for increasing capacity through hiring or reorganizing the current responsibilities of its staff. Views of Responsible Officials: See corrective action plan attached.
2024-002 Special Tests and Provisions – Enrollment Reporting Federal Assistance Listing Number: 84.007, 84.033, 84.063 and 84.268 Name of Program or Cluster: Student Financial Aid Cluster Agency: U.S. Department of Education Criteria: N. Special Tests and Provisions – Enrollment Reporting – Institutions are required to update students’ statuses on the National Student Loans Data System (“NSLDS”) website if they graduate, withdraw or have an increase/decrease in attendance level during the year within 60 days of the date the institution becomes aware of the change in enrollment status. Condition: The University did not submit an accurate status change notification or timely notification to the NSLDS website for 4 out of 25 students sampled, out of a population of 627 students, who graduated, withdrew, or had an increase/decrease in attendance level during the year. Cause: Management oversight and staff shortages. Effect: Noncompliance with OMB federal grant compliance requirements. Questioned Costs: None. Repeat Finding: Yes. Recommendation: The University should properly follow its policies and procedures over enrollment reporting to ensure that all status changes are submitted to the NSLDS website accurately and within the required timeframe. In addition, the University should assess the staffing needs of the financial aid department and plan for increasing capacity through hiring or reorganizing the current responsibilities of its staff. Views of Responsible Officials: See corrective action plan attached.
2024-002 Special Tests and Provisions – Enrollment Reporting Federal Assistance Listing Number: 84.007, 84.033, 84.063 and 84.268 Name of Program or Cluster: Student Financial Aid Cluster Agency: U.S. Department of Education Criteria: N. Special Tests and Provisions – Enrollment Reporting – Institutions are required to update students’ statuses on the National Student Loans Data System (“NSLDS”) website if they graduate, withdraw or have an increase/decrease in attendance level during the year within 60 days of the date the institution becomes aware of the change in enrollment status. Condition: The University did not submit an accurate status change notification or timely notification to the NSLDS website for 4 out of 25 students sampled, out of a population of 627 students, who graduated, withdrew, or had an increase/decrease in attendance level during the year. Cause: Management oversight and staff shortages. Effect: Noncompliance with OMB federal grant compliance requirements. Questioned Costs: None. Repeat Finding: Yes. Recommendation: The University should properly follow its policies and procedures over enrollment reporting to ensure that all status changes are submitted to the NSLDS website accurately and within the required timeframe. In addition, the University should assess the staffing needs of the financial aid department and plan for increasing capacity through hiring or reorganizing the current responsibilities of its staff. Views of Responsible Officials: See corrective action plan attached.
2024-002 Special Tests and Provisions – Enrollment Reporting Federal Assistance Listing Number: 84.007, 84.033, 84.063 and 84.268 Name of Program or Cluster: Student Financial Aid Cluster Agency: U.S. Department of Education Criteria: N. Special Tests and Provisions – Enrollment Reporting – Institutions are required to update students’ statuses on the National Student Loans Data System (“NSLDS”) website if they graduate, withdraw or have an increase/decrease in attendance level during the year within 60 days of the date the institution becomes aware of the change in enrollment status. Condition: The University did not submit an accurate status change notification or timely notification to the NSLDS website for 4 out of 25 students sampled, out of a population of 627 students, who graduated, withdrew, or had an increase/decrease in attendance level during the year. Cause: Management oversight and staff shortages. Effect: Noncompliance with OMB federal grant compliance requirements. Questioned Costs: None. Repeat Finding: Yes. Recommendation: The University should properly follow its policies and procedures over enrollment reporting to ensure that all status changes are submitted to the NSLDS website accurately and within the required timeframe. In addition, the University should assess the staffing needs of the financial aid department and plan for increasing capacity through hiring or reorganizing the current responsibilities of its staff. Views of Responsible Officials: See corrective action plan attached.